On may 15, 2018 rick Newlin reached a settlement on along overdue contract. the settlement results in Rick receiving a total of $1,900,000 --- scheduled over 4 annual payments of 475,0000 each. the first payment starts on may 15 2021, with the remaining 3 payments following on may 15, 2020, may 15 2023, may 15 2024.

Rick wants to know the present value of his settlement today on may 15 2018 at 6% interest Rate. Show all calculation.